Wednesday

Not Giving Up Yet: Still Bearish

Post a Comment July 15, 2009 – 1:41 pm |   | Permalink |  Print This Post |

More better than expected news - market is up preopen. Dow is up 100 points at 8463 and Australia 200 is at 3963. Our order to open at 3950 has been triggered. We are not throwing in the towel yet - our stops are moved up to 4060. Technical traders are revising their H&S play in some of the blogs we follow - this is exactly what the manipulators want people to do.

Addition: Gas is falling back along with Crude oil. Market is rallying on Intels better than expected results - funny thing is Intel’s share price has fallen back and is looking quick weak. Classic manipulation.

The Dow is still far from its July peak compared to the ASX. So, Dow has more space to move up (or ASX more space to fall).

Trading Updates:

• Short ASX 3980 $10/point